Housing prices have recovered greatly since the last recession, but the speed of that recovery could be slowing down soon. Over 100 real estate experts and economists were surveyed about the state of the housing market. More than half say they expect a slowdown in the market by 2020.
Currently, the King County real estate market is experiencing some changes. Homes are now staying on the market longer, when only a few months ago listings went pending after just a few days on the market. This is due to the influx of new listings hitting the market at the same time.
In 2016 and 2017, the appreciation in the greater Seattle area was around 13%. Early this year, home prices were at an all-time high since the inventory was low and buyers were competing with other buyers for whatever that was left on the market.
Going forward with the rest of the year and entering 2019, we are expecting the home prices to stable off. So, if you are planning to sell this year the home must be well-presented and strategically priced since you are more than likely to receive fewer offers. If you have any questions regarding your market value for your house or about the current real estate trends that are currently happening, please call or email me.
I would like to take this time to thank and CONGRATULATE my buyers, sellers and investors for the month of JUNE.
6/05/2018 Susan Jennings
6/22/2018 Lani and Jared Emery
6/26/2018 Brian Truong
6/29/2018 Alex and Sally Yan & Chris Liang and Kelly Wong
Happy Home ANNIVERSARY to my seasoned clients for the month of JULY!
7/12/2011 Pei Ho
7/28/2011 Daniel and Kunthida Matteson
7/12/2013 Alan and Lien Vu
7/26/2013 Jessie Kimes
7/08/2014 Jeremy Frank
7/07/2016 Brian Barker
7/22/2016 Omar Muhammad
7/27/2016 Aster Alconcel
7/05/2017 Youngji Kim
7/24/2017 Michelle Topel